Hi Folks,

There is a new project from Ackruti builders in Kondhwa Budruk called Ackruti Countrywoods. I personally visited the site there. I also met Tarang Patel who is the sales executive there I think. The initial impression was nice. I saw the sample flat. It was ok-ok. The show flat is 730 sq ft but still it does not look that small !! The reason is that design-aspect of the flats has been given considerable thought. The biggest they have in 2BHK segment is 850-890 sq ft. They are not ready to negotiate even a single rupee. Covered car parking is 1.5L and open is 1L. So on average a 850 sq ft flat would come to around 23L (ALL INCLUSIVE). Yes i said all inclusive including the car parking.

Positives: *Just 4 Kms from Katraj Bus depot.
*10 Mins from Pune Camp, MG road.
*Hill-locked project side.
*Close proximity to Wanowrie, NIBM, Hadapsar, Camp etc
*Very affordable (a big point in this RE market)
*Nice amenities and benefits of a township

Negatives: *Area is underdeveloped with no residential projects around.
*800 metres inside the main road. No bus would be coming there.
*850-890 sq ft flat size is a problem if looking for 1100-1300 sq ft
*possession is in Dec 2010


Having said that, in my team I have three guys who have booked 2 BHKs there. One has also combined 2BHK and 1BHK together. Tarang claims to be having 300+ bookings in three months.

Dont know whether this is true or false, but i DID see atleast 50 people at their sales office last saturday.

PS: The location is also very strategically placed. very close to katraj bus depot and Camp
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  • Mumbai-Pune-Mumbai

    Dear All,

    It was nice response from all ackruti members (not investors !!!) on 24 th sept meet, that made Mr. Shah to come to Pune.

    Next meet is with Mr. Shah and planned on 15th Oct at 3 pm (Saturday)

    Do not miss the opportunity to create pressure on Ackruti management which will force them to possession promptly.
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  • agenda

    Agenda for meet on 15th Oct:

    1) The common point should be raised is that year of agreement and year of possession are different for all. Therefore nobody can enjoy the benefits of stamp duty and registration charges under 80 C of income tax act and again interest paid on loan amount is also can not be realized. Hence each flat owners has lost great amount of money.

    2) If this issue is discussed then the management has to consider the earlist possible dates for possession and possession dates for each cluster B1,B2, B3 & b4 should be given in writting.

    3) Hence to cater the loss of each individual, ackruti managment should collect the service tax, which is an additional burden, at the time of possession.
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  • Can anybody share the minutes of meeting?

    pls read this:

    Ackruti City raises Rs 300 crore by mortgaging two buildings - The Economic Times
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  • Ackruti - same builder?

    I am assuming this is the same builder?

    Builder's kin turn paupers for FSI

    In a city crunched for space and now the most crowded, builders can engineer the most calculating and manipulative schemes to squeeze out the tiniest bit of room to pile on the profits. Including trying to pass off spouses and brethren as slum dwellers on the land to be redeveloped. MiD DAY's probes into the country's first slum redevelopment project reveal as much.
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  • Ackruti again changed its name .. This time it is Hubtown :bab (59):
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  • Originally Posted by rogern
    Ackruti again changed its name .. This time it is Hubtown :bab (59):


    Probably due to above news, they no longer feel that they can get away with such scams under the same name. New name, new scam ;)
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  • Major fire at Mumbai building, no casualties - Hindustan Times


    Very Rare Footage Of Akruti's Massive Fire On 23rd Dec 2011 Around 11:00 PM . This Video Contains The Moment When The Fire Got Greater Than Before.
    Very Rare Footage Of Akruti's Massive Fire. - YouTube
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  • TOI article : Delay registering flat, pay more

    Delay registering flat, pay more



    If Late By 8 Months, Property Owner Must Pay Current Stamp Duty


    Rajshri Mehta | TNN



    Mumbai: Going by a new circular issued by the Maharashtra inspector-general of registration (IGR), if owners delay the registrations of their properties by more than eight months, they will have to pay the stamp duty according to the current market value and not going by the rates prevalent at the time of purchase.
    The rule pertains to the sale, purchase or gift of land, flats or commercial offices.
    Government officials said they were compelled to issue this circular as many did not register their properties to avoid paying stamp duty and registration fees; absence of registered documents often led to multiple-transaction frauds.
    According to the Registration Act, property agreements should be registered with the stamp duty and registration office within four months of the date of execution. In case of an emergency or a court case, another four months are given to register the documents. But, during the extension period, the registration is done only on the payment of a penalty, not exceeding 10 times the amount of the registration fee. Sub-registrars will have to check the date on the confirmation deedthrough which a person confirms the transfer of a property to another through sale, gift, joint venture etc-or declaration deed-containing brief description of the property be it land, flat, location, area of the flat/land, name of the owner. These two are attached to the property papers when submitted for registration after the expiry of the deadlines.
    “Of the cases filed against us, most are about fraud and forgery cases of multiple registrations. Though the Registration Act say sub-registrars should not register these documents when submitted eight months too late, the department accepts them without verifying the number of times the same property has been registered to multiple owners,” said a senior government officer.
    According to brokers, with many property documents not being registered and so, not in public domain, they would have a hard time verifying the ownership. “This lack of clarity have resulted in fraudsters, with support from corrupt sub-registrars, cheating genuine citizens of their hard-earned money by selling a property to multiple buyers. This kind of cheating is the most prevalent in land deals in which property cards had not yet been updated,” said a broker.
    The department has cited the Supreme Court judgment which says “if the two documents are essentially distinct, being stamped and executed to effect different objects, the registrar has no power to register them as one, even if the party presenting them for registration styles one of them to be the annexure of the other especially where the registration of the document styled the annexure or appendix is barred by limitation.”
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  • interesting artilcle

    Ambitious realty bill to protect rights of harassed home buyers
    Legislation will rein in unscrupulous developers, brokers; govt aims to introduce it in budget session
    Ashutosh Kumar | New Delhi
    Home buyers harassed by unscrupulous real estate developers and property dealers can heave a sigh of relief. The Union government is set to push through a regulatory bill for the realty sector in the budget session of Parliament.

    The Real Estate (Regulation and Development) Bill is an ambitious move by the UPA government to rein in developers and protect the rights of property buyers across the country. The bill will be a major boon for buyers who are at the mercy of one-sided contracts by developers, poor quality of constructions and shady antecedents of housing projects. The bill also seeks the setting up of a Real Estate Appellate Tribunal to resolve disputes.

    According to senior officials in the housing ministry, final touches are being given to the bill. Extensive month-long consultations have also been lined up to ensure that the bill can be introduced soon. “Unless some extraneous circumstances delay it, we are likely to introduce the bill in the coming session,” a senior ministry official told DNA.

    Interestingly, consumer bodies pitched for the inclusion of property dealers and agents within the regulatory ambit during consultations with the ministry led by Union cabinet minister for housing Selja Kumari. This will ensure that contentious issues like brokerage or false promises can be tackled more effectively with a specific law in force.

    “We have received representations from the industry and various other stakeholders. Further deliberations and consultations will take place and we will be able to pen a revised draft of the bill in a few weeks,” a senior official from the housing ministry told DNA.

    Industry representatives have proposed that the approval process for real estate projects should be streamlined. According to officials, the government is looking at both the suggestions seriously and is likely to include them. “The ministry is working towards the modalities through which the brokers can be brought under the regulatory set up. Since the number of brokers is large, it cannot be done through a central legislation. So we are looking at empowering the upcoming regulatory authority to come out with guidelines for real estate agents,” the official said.

    Experts believe standardisation is the way forward and that it will also lead to transparency in the realty sector.

    “The first step that needs to be taken is formulating an eligibility criterion for becoming a broker and mandatory registration with the concerned authority. Secondly, standards need to be framed to cover aspects such as money laundering and conflict of interests,” said Sachin Sandhir, managing director, Royal Institute of Chartered Surveyors.

    In the UK, the Estate Agents Act and the Consumer Redress Act regulate realty brokers who are registered with the two ombudsmen.

    “If this is approved, it will help in increasing transparency in the realty sector and it may have some positive impact on the housing demand in the country,” said Samir Jasuja, CEO, PropEquity, a real estate data, intelligence and analytics firm, said. “However, the modalities on how brokers will be regulated still need to be fine-tuned. The government needs to take views of all stakeholders and then reach a consensus.”

    As far as government approvals for launch are concerned, the ministry is fine-tuning the clauses keeping in mind that land is a state subject and falls under the jurisdiction of local governing and municipal bodies.

    The bill has seen extensive deliberations since 2009 and picked up steam in the last few months. Incidentally, it was part of the 100-day agenda in the UPA-II after the 2009 general elections. Later, a bill in form of a model bill to be emulated by the states was drafted. Subsequently, it was broad-based and redrafted to become a law that was mandatory for the state governments to follow.

    Ambitious realty bill to protect rights of harassed home buyers
    Legislation will rein in unscrupulous developers, brokers; govt aims to introduce it in budget session
    Ashutosh Kumar | New Delhi
    Home buyers harassed by unscrupulous real estate developers and property dealers can heave a sigh of relief. The Union government is set to push through a regulatory bill for the realty sector in the budget session of Parliament.

    The Real Estate (Regulation and Development) Bill is an ambitious move by the UPA government to rein in developers and protect the rights of property buyers across the country. The bill will be a major boon for buyers who are at the mercy of one-sided contracts by developers, poor quality of constructions and shady antecedents of housing projects. The bill also seeks the setting up of a Real Estate Appellate Tribunal to resolve disputes.

    According to senior officials in the housing ministry, final touches are being given to the bill. Extensive month-long consultations have also been lined up to ensure that the bill can be introduced soon. “Unless some extraneous circumstances delay it, we are likely to introduce the bill in the coming session,” a senior ministry official told DNA.

    Interestingly, consumer bodies pitched for the inclusion of property dealers and agents within the regulatory ambit during consultations with the ministry led by Union cabinet minister for housing Selja Kumari. This will ensure that contentious issues like brokerage or false promises can be tackled more effectively with a specific law in force.

    “We have received representations from the industry and various other stakeholders. Further deliberations and consultations will take place and we will be able to pen a revised draft of the bill in a few weeks,” a senior official from the housing ministry told DNA.

    Industry representatives have proposed that the approval process for real estate projects should be streamlined. According to officials, the government is looking at both the suggestions seriously and is likely to include them. “The ministry is working towards the modalities through which the brokers can be brought under the regulatory set up. Since the number of brokers is large, it cannot be done through a central legislation. So we are looking at empowering the upcoming regulatory authority to come out with guidelines for real estate agents,” the official said.

    Experts believe standardisation is the way forward and that it will also lead to transparency in the realty sector.

    “The first step that needs to be taken is formulating an eligibility criterion for becoming a broker and mandatory registration with the concerned authority. Secondly, standards need to be framed to cover aspects such as money laundering and conflict of interests,” said Sachin Sandhir, managing director, Royal Institute of Chartered Surveyors.

    In the UK, the Estate Agents Act and the Consumer Redress Act regulate realty brokers who are registered with the two ombudsmen.

    “If this is approved, it will help in increasing transparency in the realty sector and it may have some positive impact on the housing demand in the country,” said Samir Jasuja, CEO, PropEquity, a real estate data, intelligence and analytics firm, said. “However, the modalities on how brokers will be regulated still need to be fine-tuned. The government needs to take views of all stakeholders and then reach a consensus.”

    As far as government approvals for launch are concerned, the ministry is fine-tuning the clauses keeping in mind that land is a state subject and falls under the jurisdiction of local governing and municipal bodies.

    The bill has seen extensive deliberations since 2009 and picked up steam in the last few months. Incidentally, it was part of the 100-day agenda in the UPA-II after the 2009 general elections. Later, a bill in form of a model bill to be emulated by the states was drafted. Subsequently, it was broad-based and redrafted to become a law that was mandatory for the state governments to follow.

    Ambitious realty bill to protest rights of harassed home buyers

    DNA E-Paper - Daily News & Analysis -Mumbai,India
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  • Monthly meeting with Ackruti (Hubtown) countrywoods Management, Pune is scheduled today (28/01/2012, Saturday) at 4:30 pm.

    Spread the message and Kindly attend the meet to make it successful !!!
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  • 31st March is deadline for possession.
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  • Latest rate 3800 ??:bab (45):
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  • The Project is further delayed by 3 to 6 months. The builder has send letters to each flat owner mentioning the reason of delay. The water and electricity suply problems are not yet taken up by the builder. Progress is slow. It may take another year for completion. can we sell underconstruction flats? share your comments. Thanks.
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  • Originally Posted by ramkumar
    The Project is further delayed by 3 to 6 months. The builder has send letters to each flat owner mentioning the reason of delay. The water and electricity suply problems are not yet taken up by the builder. Progress is slow. It may take another year for completion. can we sell underconstruction flats? share your comments. Thanks.

    Another eg. of delayed project.
    Yes, you can sell under-constro flat but I am not sure about the role of NOC from the builder in such case. And yes, you also need to see the issue of capital gains tax, if applicable.
    Are you planning to sell off the flat ?
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